BMW Group and Daimler AG have their sights set on the sustainability of the electric vehicle market, despite vehicle sales dwindling below year-over-year comparisons, according to company statements released this week.
BMW electric vehicles sales popped up 3.4% YoY to 61,652 units in the first half of the year. The automaker’s goal is to have 25 EV models on the roads by 2023, with more than half being fully electric vehicles rather than hybrids, according to a company release.
“Demand for our electrified vehicles outperformed the market trend in the first half of the year,” said Pieter Nota, the BMW AG board of management member responsible for customers, brands and sales. “Our wide range of plug-in hybrid models and the new fully-electric Mini are in high demand among our customers.”
However, total North American vehicle sales for BMW Group plummeted 30% to 133,844 units for the luxury vehicle manufacturer in the first half of 2020. In the second quarter, sales dipped to 70,311, a 41.1% YoY decrease.
Daimler also reported a 22% drop in U.S. sales of its Mercedes-Benz brand to 59,461 units in the first half of the year. Manfred Bischoff, chairman of the Daimler AG Supervisory Board, said EV manufacturing should not be a victim of reduced revenues during the coronavirus pandemic.
“Electrification and digitization in all their forms are the main technological tasks and continue to require high funding,” Bischoff continued. “Not least, COVID-19 has once again made it clear that we must be more careful with our environment if we want to avoid causing enormous damage to ourselves in the long term.”
Daimler’s newest S-class model, to be introduced this fall, will have a focus on electrification and digitization, the manufacturer announced, noting an all-electric sedan model will follow in 2021.
The two European manufacturers are looking to lead the industry into progressive trends, despite postponing a joint AV venture in mid-June. They also collaborated on a $1.1 billion mobility and ride-hailing program in March 2019 to stimulate the exploration of alternatives in vehicle ownership.
Originally published on Auto Finance News